The rising cost of living: how employee benefits can support staff

The rising cost of living could have a significant impact on your employees, our Employee Benefits framework may be able to help.

One of our suppliers, Edenred, offers a digital reward and recognition scheme through our Employee Benefits framework. They recently surveyed 2,000 UK employees and found that 38% would like help from their employer to improve financial wellbeing. Many worry that salaries are not keeping up with the cost of living.

But it is not just finances that worry employees. Employees would also like support with their mental and physical wellbeing.

How can you support your employees?

The survey demonstrates that UK employees would like training on money management. You could provide this with workshops and webinars. You could also review your reward and benefits schemes and consider expanding them, even in a small way.

You may currently offer gym membership, childcare vouchers or a cycle to work scheme. But you could also consider technology and smartphone discounts, or a green car scheme – helping your employees make the long-term transition to lower cost travel.

While these benefits are not the answer to severe financial problems, they may help the mental, physical and financial wellbeing of your staff. These small changes could form a key part of your employee support strategy.

Our Employee Benefits framework includes benefits such as a green car scheme, childcare vouchers and a cycle-to-work scheme. You can access the extensive range of benefits from one central online platform.

You can find out more about these benefits you from the Employee Benefits framework page on our website.

Read the full report on employee trends to find out what support your employees need and action points every business needs to take this year.